10. Business activity of mBank Group subsidiaries

10.1. Summary of financial results of mBank Group subsidiaries

Total profit before tax of the subsidiaries of mBank Group stood at PLN 183.1 million in 2014, compared to PLN 211.8 million in 2013 (net of intra-group transactions and dividends, i.e., dividend paid by BRE Ubezpieczenia TUiR S.A. to Aspiro S.A., gains on the sale of BRE Agent Ubezpieczeniowy Sp. z o.o. and BRE Ubezpieczenia Sp. z o.o. by BRE Ubezpieczenia TUiR S.A.).

The table below presents the net profit of the subsidiaries in 2014 compared to 2013.

 

PLN M

2013

2014

Change in PLN m

Change in %

BRE Ubezpieczenia

61.6

53.5

-8.1

-13.1%

mLeasing

64.4

45.9

-18.5

-28.7%

mBank Hipoteczny

7.2

25.5

18.3

254.2%

mFaktoring

18.5

20.0

1.5

8.1%

Dom Maklerski mBanku

25.0

19.5

-5.5

-22.0%

mWealth Management

16.7

18.5

1.8

10.8%

mLocum

16.2

16.7

0.5

3.1%

Aspiro

0.3

16.4

16.1

5,366.6%

Other

1.9

-32.9

-34.8

-1,831.6%

Total gross profit of mBank's subsidiaries

211.8

183.1

-28.7

-13.6%

prev next

In particular, the following subsidiaries improved their results in comparison to 2013: mFaktoring, mWealth Management, mBank Hipoteczny and mLocum.